A Taiwan-based manufacturing company with an equity interest in bankrupt TV manufacturer Syntax-Brillian Corp. is suing senior executives alleging they signed off on false financial reports before the company collapsed.
A federal bankruptcy judge has approved a seventh interim order allowing bankrupt Pappas Telecasting Inc. to access cash collateral from a bridge loan even though the lender has not received $30 million promised by the company's CEO over two years ago.
A class action brought by a former Foamex LP worker accusing the bankrupt foam maker of breaches of duty stemming from its management of an employee savings plan has survived a motion to dismiss, with a federal judge letting stand six of eight claims in the suit.
Bankrupt retailer Steve & Barry's LLC should be able to continue operating most of its 276 stores under the terms of a $168 million purchase agreement reached Thursday with an affiliate of investment firm Bay Harbour Management.
The U.S. trustee overseeing the Chapter 11 proceedings of Levitz Furniture Inc. has objected to the latest round of fee applications in the case, arguing that paying the fees in full would be premature because the outcome of the proceedings remains uncertain.
A bankruptcy judge has given auto supplies maker Intermet Corp., which filed for Chapter 11 protection for the second time on Aug. 12, the green light to access cash collateral from a group of prepetition lenders despite the lenders' objections.
Panda Energy International Inc. will appeal a decision by a bankruptcy judge that denies the company's $200 million in claims against Calpine Corp. over contracts related to Panda power plants.
A bankruptcy judge agreed Wednesday to a proposal by diamond jewelry maker L.I.D. Ltd. to make changes to its liquidation plan and disclosure statement, though he expressed initial reservations about some of the revisions being discussed by L.I.D. and its lenders.
A real estate company that sued Pillsbury Winthrop Shaw Pittman LLP for more than $50 million for legal malpractice during bankruptcy proceedings is now complaining that the law firm refuses to begin the discovery process and has filed a motion asking a federal judge to order the firm to do so.
A bankruptcy judge signed off on an amendment to Propex Inc.'s post-bankruptcy financing at a hearing Wednesday, denying the company's unsecured creditors' demand to see more documentation of the company's debtor-in-possession agreement before the judge approved the amendment.
A bankruptcy judge has given his nod to a contentious $500,000 settlement between unsecured creditors of Sharper Image and the joint venture approved to buy the beleaguered retail chain's assets, dismissing objections by the U.S. trustee overseeing the case.
A federal judge has extended the exclusivity period for bankrupt lender Delta Financial Corp., which said last month that it is close to reaching an agreement with its creditors.
Consumer electronics retailer Circuit City Stores Inc. has objected to Syntax-Brillian Corp.'s request to sell some of its assets to another company to the extent that the sale would impede Circuit City's rights to dispute and pay off debt it allegedly owes the bankrupt TV maker.
Seeking to untangle a “complex fight” over more than $146 million worth of its assets, bankrupt Whitehall Jewelers Inc. on Monday sought a judge's approval for an agreement with its creditors to liquidate as it seeks to reorganize under Chapter 11.
Unsecured creditors of bankrupt Wickes Furniture Co. Inc. have sued delivery company Affinity Logistics Corp. for the return of almost $800,000 in transfers from Wickes to Affinity that the creditors claim were improper.
In the wake of attorney layoffs at other firms, Fried Frank Harris Shriver & Jacobson LLP has announced that it is letting go an unspecified number of its support staff.
American Home Mortgage Inc. will be able to hold on to more than $10 million in proceeds from a sale of its assets to go along with an amended debtor-in-possession financing agreement, a federal bankruptcy judge ruled Monday.
The plaintiffs in two putative class actions over the Ionic Breeze air purifier, suits that helped drive Sharper Image Corp. into bankruptcy, have asked a court to certify the class for the purpose of seeking $767 million in damages.
The federal judge overseeing the Chapter 11 proceedings of Charys Holding Co. Inc. has signed off on an agreement allowing the telecommunications company to use $8.3 million in cash collateral to pay back some of its noteholders' expired claims.
Creditors of bankrupt discount clothing outlet Steve & Barry's LLC have asked the judge overseeing the company's bankruptcy to stop a $5 million payment to the company's founders.